Business Diary: Consider the Krugman Factor

The Nobel Prize-winning economist Paul Krugman is fighting back following an exchange between Glenn Beck and Bill O'Reilly, the right-wing shock jocks of American television. Describing Krugman as one of the "far left", O'Reilly said that he and the likes of "Soros and his merry men" were intent on destroying the American economy so that they would be free to "build up a socialist system". O'Reilly is on to something, confesses Krugman on his blog, adding "Luckily, he hasn't learned about our plan to steal his precious bodily fluids." It's hardly a fair fight, intellectually, this one.

A right royal share tip

There is a large health warning with this suggestion – it comes from a fund management company – but if you're looking for a reason to invest on the stock market, the Royal Wedding could be it, says Fidelity. It points out that the investment climate in the run-up to the wedding of Charles and Di in 1981 was remarkably similar to today, with stocks having underperformed for an extended period and a bleak economic outlook. So in the unlikely event of you having a few spare pennies, give your broker a call, rather than spending it on Kate and Wills memorabilia.

Morecome or Newkey this year?

Word has it that one or two large travel firms are getting nervous about the lack of bookings they've taken so far for the forthcoming summer season. Well, Travelodge may have an explanation – it turns out Britons can't spell the names of some of our best-known towns and cities. Indeed, 25 per cent of its daily bookings are misspelt. Morecome for Morecambe is common, while Newquay is often rendered Newkey. If they can't spell English names, what hope is there for foreign parts?

Heated response from Scotland

We're charmed by Hawick Knitwear, a small Scottish company, which has just sent the Diary a triumphant note about how sales this year have exceeded all expectations. We're all for trumpeting the success of entrepreneurial small businesses; we would question whether the best time to launch a marketing drive for woolly jumpers is in the middle of an unseasonable heatwave.

businessdiary@independent.co.uk